Smart Orthotics Limited, a company that is developing a robotic exoskeleton for disabled users, today announced that it has received venture capital funding from No 8 Ventures. The new capital will be used to support further product development, production engineering and enable a release to market of their Robotic Mobility Aid for disabled persons.
There have been dramatic advances in robotics over the past one to two years. said Jenny Morel of No 8 Ventures. We believe that Smart Orthotics is at the forefront of these technological developments and is building a great product that will serve a large and important unmet market need.
Richard Little, CEO of Smart Orthotics Limited, said, This investment by No 8 Ventures is a significant step forward for the company. Smart Orthotics has spent three years developing the artificial intelligence and robotic systems that enable its smart mobility aid to function and with this investment Smart Orthotics can now move ahead more rapidly in taking this product and functionality to the end user.
Smart Orthotics Limited (SOL) is a New Zealand technology company that has designed and developed a smart disability aid employing the latest robotic technologies. Their robotic exoskeleton is worn on the lower limbs by a disabled person providing the user with a normal range of mobility functions including standing, sitting, walking, ascending and descending stairs and navigating sloping surfaces. Their vision for a robotic exoskeleton that restores mobility was prompted by the limitations of the wheelchair.